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On May 4, 2021, Washington Governor Jay Inslee signed Senate Bill 5096 ( SB 5096 ) into law, creating a capital gains tax regime in Washington. The bill has had a brief, but colorful journey so far. It appears that the journey is continuing.
Will Washington s capital gains tax be here to stay? At this point, it is anyone s guess.
SB 5096 was originally introduced to the Washington State Senate on January 6, 2021. It was passed by the Senate on March 6, 2021, after a hearing in the Senate Committee on Ways and Means, three readings and some floor amendments. The bill s passage margin in the Senate was narrow, receiving 25 affirmative votes and 24 negative votes.